Sugar prices fall on heavy stocks, thin demand

Sugar prices fall on heavy stocks, thin demand

Sugar prices dropped by Rs 25 per quintal at the wholesale market in the national capital today largely due to ample stocks on higher output and muted offtake by stockists and bulk consumers.

Marketmen said huge position of ready stocks on constant supplies from mills against slackened buying by stockists and bulk consumers such as soft-drink and ice-cream makers, mainly weighed on sugar prices.

In the price section, sugar mill delivery M-30 and S-30 slipped by Rs 20 each to end at Rs 2,790-2,895 and Rs 2,780-2,885 per quintal.

Sugar ready M-30 and S-30 prices also eased by Rs 10 each to conclude at Rs 2,990-3,090 and Rs 2,980-3,080 per quintal.

In the mill gate section, sugar Mawana and Simbholi declined by Rs 25 each to Rs 2,815 and Rs 2,875, while Kinnoni, Budhana, Thanabhavan and Dhampur lost Rs 20 each to Rs 2,895, Rs 2,830, Rs 2,820 and Rs 2,790 per quintal respectively.

Following are today’s quotations (in Rs per quintal)

Sugar retail markets – Rs 31.00-34.00 per kg.

Sugar ready: M-30 Rs 2,990-3,090, S-30 Rs 2,980-3,080.

Mill delivery: M-30 Rs 2,790-2,895, S-30 Rs 2,780-2,885.

Sugar millgate (including duty): Mawana Rs 2,815, Kinnoni Rs 2,895, Asmoli Rs 2,860, Dorala Rs 2,820, Budhana Rs 2,830, Thanabhavan Rs 2,820, Dhanora Rs 2,885, Simbholi Rs 2,875, Khatuli Rs 2,885, Dhampur Rs 2,790, Sakoti 2,805, Modinagar 2,820, Shamli 2,810, Malakpur 2,805, Ramala not available, Anupshaher N.A, Baghpat N.A.,Morna N.A., Chandpur N.A., Nazibabad N.A and Nanota N.A.

Source: Business Standard – Published on: 13/04/2018